Gold is squeezed in the channel

Gold is squeezed in the channel

On the daily chart of gold, quotes approached the lower border of the upward trading channel. A successful test of the support with the subsequent breakout of the neckline of the Head and shoulders pattern located near $1,230 may result in a quotes' downfall towards $1,210 and $1,190.


On the hourly chart of gold, the Head and Shoulders pattern has worked out. There is a change in the short-term trend or a pullback within the near-term upward trend. A rollback from $1,255 and $ 1, 260 levels may result in the opening of short positions.




USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera